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Two Seas Capital Portfolio holdings

AUM $5.05B
1-Year Est. Return 164.99%
This Fund
S&P 500
This Quarter Est. Return
+40.35%
1 Year Est. Return
+164.99%
3 Year Est. Return
+386.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.05B
AUM Growth
-$2.11B
Cap. Flow
-$38.2M
Cap. Flow %
-0.76%
Top 10 Hldgs %
72.54%
Holding
57
New
10
Increased
16
Reduced
15
Closed
10

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$82.9M
2
SHAZ
SharonAI Holdings
SHAZ
+$49.5M
3
VST icon
Vistra
VST
+$38M
4
SOC icon
Sable Offshore Corp
SOC
+$36.7M
5
SPCX
SpaceX
SPCX
+$35.5M

Top Sells

Rank Stock Value
1
CORZ icon
Core Scientific
CORZ
+$168M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$46M
3
FSLR icon
First Solar
FSLR
+$41M
4
WULF icon
TeraWulf
WULF
+$35.2M
5
ESPR
Esperion Therapeutics
ESPR
+$31.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 48.22%
2 Healthcare 22.06%
3 Technology 9.84%
4 Utilities 5.21%
5 Materials 4.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBIT icon
51
PUT
iShares Bitcoin Trust
IBIT
$59.7B
– –
-500,000
Closed -$19.2M
MRNA icon
52
PUT
Moderna
MRNA
$58.1B
– –
-1,100,000
Closed -$55.9M
MSOS icon
53
AdvisorShares Pure US Cannabis ETF
MSOS
$969M
– –
-3,302,409
Closed -$15.5M
ECHO
54
CALL
EchoStar
ECHO
$27.1B
– –
-375,000
Closed -$43.9M
TAC icon
55
TransAlta
TAC
$3.78B
– –
-1,597,900
Closed -$20.9M
XBI icon
56
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
– –
-1,928,000
Closed -$246M
NBIS
57
Nebius Group N.V.
NBIS
$56.9B
– –
-196,475
Closed -$20.4M
1 2
3

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Two Seas Capital's Q2 2026 Portfolio in Review

As of Q2 2026, Two Seas Capital held 57 positions worth $5.05B, down 29% from $7.15B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Two Seas Capital's Q2 2026 filing shows 10 new, 16 increased, 15 reduced and 10 closed positions. Its largest new stake was SpaceX: 208,890 shares worth $35.7M. The largest sale was Core Scientific, an estimated $168M.

By sector, the portfolio is most concentrated in Miscellaneous at 48% of assets, down from 70% a quarter earlier, followed by Healthcare and Technology.

  • Two Seas Capital's largest Q2 2026 buy was SpaceX: 208,890 shares worth $35.7M.
  • Two Seas Capital added most to Nektar Therapeutics in Q2 2026, an estimated $82.9M increase.
  • Two Seas Capital's biggest Q2 2026 reduction was Core Scientific, cutting an estimated $168M.
  • Two Seas Capital fully exited Esperion Therapeutics in Q2 2026, selling an estimated $31.2M.
  • Two Seas Capital's ten largest holdings make up 73% of its $5.05B portfolio in Q2 2026.
  • Two Seas Capital opened 10 new positions and closed 10 in Q2 2026.
  • Two Seas Capital's portfolio value fell 29% quarter-over-quarter to $5.05B.

Based on Two Seas Capital's 13F filing for Q2 2026, filed 12 Aug 2026.